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Procedure in case not able to pay loan and lenders abusing
20-Aug-2023 (In Banking / Finance Law)
I have taken pay day loan from application. Rs. 10000 from 3 deferent company. On may.2017 due to for baby delivery purpose. But unfortunately I couldn't able repay the loan amount on time due to I lost my job on may. 2017 itself the reason is our process has been closed so I am unemployed from June onward. I got my new job this month only now that lenders are not providing any extension they are calling my family and friends and abusing them in bad words. They are saying to me begg in road side or sale your wife in market. Kindly advice me what to do know.
No one can right to harass any person for the loan given, you can protect them by approaching a civil court legally which also gives protection from unwanted agents and from police also. if you are not able to pay go to one time settlement until get legally breathing time.
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Adv. Satish Kumar
Chennai | 500+ Answers
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